After Chinese Company Oppo lost their wireless patent case against Nokia resulting in their smartphones being dropped by retailers in Europe, Apple has taken a different approach by signing a long-term patent deal for 5G wireless devices.
The new deal will replace the current license agreement signed back in May 2017, which is set to expire at the end of 2023.
Apple like Oppo, are well known for stealing patents and ending up losing in theft actions bought against them in courts will incorporate the new Nokia 5G software in their new devices launched this year.
The new patent license agreement covers Nokia’s inventions in 5G and other technologies.
The terms of this agreement between the two companies remain confidential, however Nokia has said it will receive payments from Apple for a multi-year period and expects to recognise the revenue related to this new agreement starting in January 2024.
The Finnish company also said that the new agreement with Apple is consistent with its long-term outlook in its Financial Report disclosed on April 20, 2023.
Jenni Lukander, President of Nokia Technologies, said, “We are delighted to have concluded a long-term patent license agreement with Apple on an amicable basis. The agreement reflects the strength of Nokia’s patent portfolio, decades-long investments in R&D, and contributions to cellular standards and other technologies.”
Nokia’s patent portfolio is built on more than €140 billion invested in R&D since 2000 and consists of around 20,000 patent families, including more than 5,500 patent families essential to 5G.
